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US oil benchmark loses 5% as Iran proposes new US talks

World News

01-05-2026 | 11:01

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US oil benchmark loses 5% as Iran proposes new US talks

The U.S. oil benchmark fell 5 percent on Friday after Iranian media reported that Tehran had delivered a new proposal for talks with the United States via mediator Pakistan.

A barrel of West Texas Intermediate (WTI) was trading at $99.85, down 4.97 percent, after briefly losing more than 5 percent, while Brent North Sea crude dropped 3.10 percent to $106.98.

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